M&S to close Covent Garden store

Marks & Spencer is to close its Covent Garden store, one of London’s busiest tourist areas.

The British fashion and food chain confirmed the longstanding rumours, stating in Retail Week: “We’re in discussions with the landlord about our Covent Garden store. It is our intention to close the store next year.”

The high street chain operates a 20,000 sq ft store in Covent Garden, which features men’s and womenswear, a cafe and its popular food hall.

The soaring cost of business rates is thought to be the reason M&S is planning to exit its Covent Gardens site.

Earlier this month an M&S spokesman told the Evening Standard: “We’re changing our UK store estate, improving our clothing and home stores.”

In April M&S revealed plans for a major overhaul of its estate, which includes opening 200 new food-only stores and selling clothing and homewares in 60 fewer locations.

According to the Retail Gazette M&S is planning to close a further six stores in Monks Cross, Portsmouth, Slough, Warrington, Wokingham and Worksop, while opening 36 brand new outlets by the end of 2018.

Photo credit:M&S breast cancer campaign, source: M&S Facebook